SNH TRS Priority Return definition

SNH TRS Priority Return means an annual amount equal to eight percent (8%) of Invested Capital.
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SNH TRS Priority Return means an amount equal to (a) Three Million Six Hundred Ten Thousand and 00/100 Dollars ($3,610,000.00) per year, plus (b) seven percent (7%) of the capital expenditures funded by SNH TRS for the Facility since December 31, 2015.
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Examples of SNH TRS Priority Return in a sentence

  • As compensation for the services to be rendered by Manager under this Agreement, Manager shall receive a management fee (“Base Fee”) during the Term equal to three percent (3%) of the Gross Revenues of the Facility and an additional fee (“Incentive Fee”) equal to thirty-five percent (35%) of Net Operating Income after payment of the SNH TRS Priority Return.

  • If any installment of the Base Fee or the SNH TRS Priority Return is not paid when due, it shall accrue interest at the Interest Rate.

  • The Base Fee and SNH TRS Priority Return shall be subject to adjustment by increasing or decreasing the payment due in the following month based upon the Gross Revenues reflected in the monthly financial statements and the increases in Capital Replacements reported to Manager by SNH TRS for the month just ended.

  • The SNH TRS Priority Return shall be paid on the first Business Day of each calendar month, in advance in approximately equal monthly installments, based upon Invested Capital most recently reported to Manager by SNH TRS.

  • The SNH TRS Priority Return and accrued interest, if any, shall be paid on the first Business Day of each calendar month, in advance in approximately equal monthly installments, based upon Invested Capital most recently reported to Manager by SNH TRS.

  • The Base Fee and SNH TRS Priority Return shall be subject to adjustment by increasing or decreasing the payment due in the following month based upon the Gross Revenues reflected in the monthly financial statements and increases or decreases in Invested Capital reported to Manager by SNH TRS, as the case may be.

  • For example, if the full year SNH TRS Priority Return for a Property made subject to a Management Agreement on March 31, 2018 were $100, the SNH TRS Priority Return due under the Management Agreement for 2018 would be $75, and $75 would be included in determining the Aggregate TRS Priority Return due under Pooling Agreement No. 12 for 2018.

  • Manager shall collect all Gross Revenues and shall apply the Gross Revenues in the following order of priority: First, to pay all Facility Expenses (excluding the Base Fee), Second, to pay Manager all accrued but unpaid Base Fee, Third, to pay SNH TRS all accrued but unpaid SNH TRS Priority Return, Fourth, to pay Manager the Incentive Fee, and Fifth, to pay SNH TRS the SNH TRS Residual Payment.

  • If the SNH TRS Priority Return is not paid in full for any calendar year, the unpaid amount shall not continue to be payable pursuant to clause (3) of Section 5.01 in subsequent years.